Posts Tagged ‘
insurance ’

Last month, Farmers Insurance Co., one of the nation’s largest insurers, filed nine class action suits alleging that about 200 Chicago area localities knew that climate change would lead to greater rainfall but haven’t taken action to guard against future flooding.

So often has seawater inundated the small city of 53,000, Milford, Conn., has the distinction of having the most number of properties in the state — 36 — that have been repeatedly and severely flooded from coastal storms. In the last 35 years, such properties in the city have accounted for 206 federal government payouts[continue reading…]

Standing at the foot of the town’s Beach House and facing Long Island Sound, Gov. Dannel P. Malloy spoke to the media Thursday to promote a new initiative aimed at providing homeowners threatened by coastal flooding with access to low-interest loans to help pay for home improvements. For more on this story, visit: Governor Malloy,[continue reading…]

Connecticut Insurance Commissioner Thomas Leonardi today announced that Connecticut-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary report by the National Association of Insurance Commissioners (NAIC).

The Virginia Supreme Court recently issued its much anticipated opinion in Steadfast Insurance Company v. The AES Corporation, the first climate change coverage case to be decided, and affirmed the lower court’s judgment declaring that Steadfast had no duty under the CGL policy issued by it to defend its insured, AES Corporation, against climate change[continue reading…]